JPMorgan Chase & Co. Buys 60,216 Shares of Air Lease Corporation $AL

Key Points

• JPMorgan Chase & Co. increased its stake in Air Lease Corporation by 1.2%, acquiring an additional 60,216 shares, bringing its total to over 5 million shares, valued at approximately $242.8 million.
• Analysts remain optimistic about Air Lease, with Barclays setting a price target of $67.00, and Citigroup raising their target to $68.00, classifying the stock with a consensus rating of "Moderate Buy."
• Air Lease recently reported a quarterly earnings per share (EPS) of $1.40, exceeding estimates, alongside a quarterly revenue of $731.7 million, marking a 9.7% increase year-over-year.

JPMorgan Chase & Co. grew its holdings in shares of Air Lease Corporation (NYSE:AL - Free Report) by 1.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,025,421 shares of the transportation company's stock after purchasing an additional 60,216 shares during the period. JPMorgan Chase & Co. owned approximately 4.50% of Air Lease worth $242,778,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Illinois Municipal Retirement Fund boosted its position in shares of Air Lease by 0.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 56,306 shares of the transportation company's stock valued at $2,720,000 after purchasing an additional 272 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of Air Lease by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 45,851 shares of the transportation company's stock valued at $2,210,000 after purchasing an additional 280 shares during the period. Squarepoint Ops LLC boosted its position in shares of Air Lease by 3.0% in the 4th quarter. Squarepoint Ops LLC now owns 9,564 shares of the transportation company's stock valued at $461,000 after purchasing an additional 281 shares during the period. MBM Wealth Consultants LLC boosted its position in shares of Air Lease by 2.1% in the 1st quarter. MBM Wealth Consultants LLC now owns 14,131 shares of the transportation company's stock valued at $686,000 after purchasing an additional 284 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of Air Lease by 88.1% in the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock valued at $36,000 after purchasing an additional 348 shares during the period. 94.59% of the stock is owned by institutional investors and hedge funds.

Air Lease Stock Up 0.9%

Shares of NYSE AL traded up $0.51 during trading hours on Monday, hitting $57.77. The stock had a trading volume of 110,486 shares, compared to its average volume of 845,287. The company has a market capitalization of $6.46 billion, a P/E ratio of 7.02, a P/E/G ratio of 0.59 and a beta of 1.41. The firm's 50-day moving average price is $57.35 and its two-hundred day moving average price is $51.72. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $60.41. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.33 by $0.07. The business had revenue of $731.70 million during the quarter, compared to analysts' expectations of $723.35 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. Analysts anticipate that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 annualized dividend and a dividend yield of 1.5%. Air Lease's payout ratio is presently 10.68%.

Insider Activity at Air Lease

In related news, EVP David Beker sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $55.44, for a total value of $110,880.00. Following the completion of the sale, the executive vice president owned 19,770 shares of the company's stock, valued at approximately $1,096,048.80. The trade was a 9.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AL. Citigroup upgraded Air Lease from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $45.00 to $68.00 in a research report on Tuesday, May 20th. Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, Barclays restated an "overweight" rating and set a $67.00 price objective (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.50.

About Air Lease

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.